Jiwasraya Panja Ensures Traditional Customers Receive Refunds In The First Quarter Of 2020

Gedung DPR RI. (Irfan Meidianto/VOI)

JAKARTA - Traditional customers of PT Asuransi Jiwasraya can breathe a little easier. This is because the Ministry of BUMN and Panja Jiwasraya Commission VI of the DPR have agreed that customer refunds starting in the first quarter of 2020 will be prioritized for traditional customers first.

Just so you know, the number of Jiwasraya traditional customers reached 4.7 million people, compared to JS Saving Plan customers which only amounted to 17 thousand people. The prioritization agreement will be determined at a joint Panja meeting at the end of March.

Member of the Jiwasraya Special Committee Commission VI Andre Rosiade said he hoped that by the end of March the repayment installments of funds to customers had started to be paid. He emphasized that the panja will side with the people.

"Take it easy. When it comes to (traditional customers), I want to make sure that the DPR will definitely side with the people," he said, when contacted, in Jakarta, Friday, February 28.

As for the options for rescuing this state-owned company, said Andre, until now it is still being discussed by the Jiwasraya, the ministry and the Panja. However, the panja urged SOEs to continue to pay off customer funds in March, provided that any options taken are not expected to cause new problems in the future.

As is known, the DPR is currently carrying out a recess period starting from February 27 to March 23. However, according to Andre, communication and discussion is still possible.

"The point is this, we have accepted the government's option and we will study it first in this month. We have received the documents," he said.

However, Andre was reluctant to reveal the options contained in the documents submitted by the government. Starting from the customer refund scheme to saving the state-owned company. However, what is certain is that the Panja will hold a joint meeting on March 24.

"InsyaAllah, we will discuss it again after the next session on the 23rd after the plenary meeting, Panja Jiwasraya Commission VI meeting. Then, March 24, the joint Jiwasraya Panja will soon meet the government again. What are the options for the scheme, just wait for the 24th," he said.

For your information, the Government has prepared three options for saving the state-owned insurance company, PT Asuransi Jiwasraya (Persero). First or Option A in the form of Bail In, namely, financial support from Jiwasraya shareholders. The consideration is that a full or partial payment can be made. However, there is a risk of legal action if a partial payment is made.

Then, the second or Option B is in the form of Bail Out, which is government funding support. This option cannot be exercised by Jiwasraya because there are no related regulations from either the OJK or the KSSK.

Meanwhile, Third or Option C is in the form of liquidation or dissolution of the company. This step must be done through the OJK. However, it has a significant social and political impact.